Gov't continues legal assistance to SMEs

The program aims to promote awareness and sense of legal compliance and reduce legal risks and obstacles of SMEs that account for majority of the country's total businesses.

Under the program, ministries, agencies and localities shall have to update policies and legal assistance programs for SMEs, collect all feedbacks regarding legal obstacles from SMEs and report to competent authorities for refining legal regulations.

Legal assistance shall be conduct in a diverse manner, including direct and indirect forms such as forums and dialogues as well as via various platforms.

Earlier on June 2019, the Government issued Decree No 55/2019/ND-CP on legal assistance to SMEs.

The Decree outlines supporting policies for household businesses which change their business model into SMEs, innovative SMEs, SMEs joining industrial links.

Up to 98% of Vietnamese businesses are SMEs (about 88,000 enterprises), making up 40% of GDP and 50% of employment (or 1.2 million job).

Due to the COVID-19 pandemic, over 90% of them have been negatively affected.

(Source: VGP)